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Jan 16, 2013
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debt ceiling. the last obstacle may be the least dangerous, judging by what happened last year with the overly dreaded debt downgrade and what's happening now. take your cue from the markets. here is the bottom line. washington fright fest is almost over, people. maybe time to break out the dr. strangelove handbook and learn how to stopped worrying and love the irrelevant gridlock that will soon face, once the debt ceiling is raised, and politics cease to be the biggest factor in our investment thinking. kevin in washington, kevin. >> caller: booyah, mr. brilliant one. a quick question. you know, with the higher cost of foods and energy, and the lower incomes we're all expecting, the average working person, do you think we can return to the dependence on our credit cards? if we are, is master card a good buy? >> i like master card, my charitable trust owns it, ebay, that stock soaring in afterhours. master card is a paper to plastic worldwide trend, not so much we get hooked in debt or not. and i'v
debt ceiling. the last obstacle may be the least dangerous, judging by what happened last year with the overly dreaded debt downgrade and what's happening now. take your cue from the markets. here is the bottom line. washington fright fest is almost over, people. maybe time to break out the dr. strangelove handbook and learn how to stopped worrying and love the irrelevant gridlock that will soon face, once the debt ceiling is raised, and politics cease to be the biggest factor in our investment...
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Jan 14, 2013
01/13
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raising the debt ceiling does not authorize us to spend more. all it does is say that america will pay its bills. and we are not a deadbeat nation. and the consequences of us not paying our bills, as i outlined in my opening statement, would be disastrous. so i understand the impulse to try to get around this in a simple way. but there's one way to get around this. there's one way to deal with it, and that is for congress to authorize me to pay for those items of spending that they have already authorized. and, you know, the notion that republicans in the house or maybe some republicans in the senate would suggest that in order for us to get our way on our spending priorityies, that e would risk the full faith and credit of the united states, that, i think, is not what the founders intended. that's not how, i think, most americans think our democracy should work. they've got a point of view. democrats in congress have a point of view. they need to sit down and work out a compromise. [ inaudible ] yeah. >> and you're not negotiating on the debt c
raising the debt ceiling does not authorize us to spend more. all it does is say that america will pay its bills. and we are not a deadbeat nation. and the consequences of us not paying our bills, as i outlined in my opening statement, would be disastrous. so i understand the impulse to try to get around this in a simple way. but there's one way to get around this. there's one way to deal with it, and that is for congress to authorize me to pay for those items of spending that they have already...
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Jan 17, 2013
01/13
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debt ceiling. what are you going to scare us with about washington after that's over and you faked everyone out and got them to sell? i rolled my eyes, i defended myself, saying that all three of threes issues were and are worthy of worry and i told people to stay the course, like he could care. he said, again, what washington horror story are you going to gin up, cramer? and i said impact on spending of higher taxes, coming affordable care act, instead i said wisely no, that's it. maybe it would be good if you focused on the stock market again. ouch! but it did get me thinking. we have seen bank stocks go higher, today, last week, putting washington behind them. and it didn't look like the bank killing dodd frank had much impact on goldman sachs or jp morgan. high-end retails rally, and it incurred, and we keep acting as it has, and no cessation of home buying according to lennar, and the sandy bailout will kick in by the end of the second quarter, home depot will fly. we're through two of the was
debt ceiling. what are you going to scare us with about washington after that's over and you faked everyone out and got them to sell? i rolled my eyes, i defended myself, saying that all three of threes issues were and are worthy of worry and i told people to stay the course, like he could care. he said, again, what washington horror story are you going to gin up, cramer? and i said impact on spending of higher taxes, coming affordable care act, instead i said wisely no, that's it. maybe it...
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Jan 19, 2013
01/13
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CNN
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the upcoming debt, certainly, the debt ceiling set the tone, really, for what to expect, we think, for the next four years. the battle over that, already. do you see that as the case? >> well, it's certainly going to be a big challenge, both for the president and for republicans. you're already hearing from republicans that came out of their retreat yesterday, essentially walking back, that they were going to use this debt ceiling pretty much to -- you know, as the democrats like to say, to take the economy hostage, to demand spending cuts. they have backed off of that, looking at some plan to raise the debt ceiling at least for the next three months, to give some time for those talks to happen. and there is a big challenge in coming together, because the president still really feels like absolutely, the debt needs to be focus on, it's a huge issue, big priority, but it needs to be done in a balanced way so that all the spending cuts are not focused on programs for those who are most vulnerable. so we'll see. >> so ana, do you think that the debt ceiling will set the tone between the p
the upcoming debt, certainly, the debt ceiling set the tone, really, for what to expect, we think, for the next four years. the battle over that, already. do you see that as the case? >> well, it's certainly going to be a big challenge, both for the president and for republicans. you're already hearing from republicans that came out of their retreat yesterday, essentially walking back, that they were going to use this debt ceiling pretty much to -- you know, as the democrats like to say,...
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Jan 15, 2013
01/13
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he voted against the debt ceiling i believe in 2006. why all of a sudden does he not want have to have negotiations? >> i think will's happened, larry, is that the president spent 2011 and 2012 with republicans squeezing him on his priorities, having opposed him during the first two years of his presidency. then that really had the wind at their back. the tea party election of 2010 had given republicans very big numbers on the hill. and he's decided that he backed up, and he backed up and he backed up, and he's not going to back up anymore. he took his argument to the american people in the election. he won the election. they held the house, that is true. but he's decided that he's been vindicated by public opinion broadly, and he's going to try to hold that ground. the question is going to be, larry, at the end of the year on the tax issue, he had the hammer behind him of the expiration of all the bush tax cuts. he does not have that hammer right now. what he has is the prospect of a catastrophic standoff between republicans and democr
he voted against the debt ceiling i believe in 2006. why all of a sudden does he not want have to have negotiations? >> i think will's happened, larry, is that the president spent 2011 and 2012 with republicans squeezing him on his priorities, having opposed him during the first two years of his presidency. then that really had the wind at their back. the tea party election of 2010 had given republicans very big numbers on the hill. and he's decided that he backed up, and he backed up and...
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Jan 15, 2013
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what is failing to raise the debt ceiling? why is that going to be catastrophic? >> well, you know, first of all the stock and bond markets will really go haywire in a way they didn't when we were about to go over the fiscal cliff because government bonds are held by everybody. chinese central bank, japanese central bank, every single bank financial institution out there. so if there's any question over the value of those and they start to decline, these institutions have a great amount of leverage and interconnected with everything else and sort of see what happened in 2008. it's also this issue of, you know, who gets paid? if you start to have to say maybe soldiers get paid but not paying for the fuel or these doctors will get paid, you know, government is a huge force in our economy. like it or not. and the number of companies that would really be affected from walmart to every defense contractor to giant health care companies, if their ability to collect money that is owed to them is then put in doubt, that triggers a whole, you know, range of activities of ot
what is failing to raise the debt ceiling? why is that going to be catastrophic? >> well, you know, first of all the stock and bond markets will really go haywire in a way they didn't when we were about to go over the fiscal cliff because government bonds are held by everybody. chinese central bank, japanese central bank, every single bank financial institution out there. so if there's any question over the value of those and they start to decline, these institutions have a great amount...
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Jan 15, 2013
01/13
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trimg the deficit should be separate from the debt ceiling. >> raising the debt ceiling does not authorize us to spend more. all it does is a america will pay its bills. we are not a deadbeat nation. >> john boehner said the american people do not support raising the debt ceiling without reducing government spending at the same time. >> listen to this. a medical scare in a buffalo, new york veteran's hospital. many may have been exposed to hiv. the pens are designed to be used by one person, but many of them were used on multiple people. >> surfers, beware. you have to look at this video. it's shocking. >> standing on the shore? >> he has his toes in the water. two sharks were spotted dangerously close to shore in honolulu. this was off of oahu. they are like ten feet offshore. >> i will call him a dingaling if he is in the water. >> he's a hero. >> there is flooding and ice. from the weather center, you said snow is on the way as well? >> that's right. it's coming to you guys. it's coming into a north and west of new york into connecticut as well. that's not today's concern. we have the s
trimg the deficit should be separate from the debt ceiling. >> raising the debt ceiling does not authorize us to spend more. all it does is a america will pay its bills. we are not a deadbeat nation. >> john boehner said the american people do not support raising the debt ceiling without reducing government spending at the same time. >> listen to this. a medical scare in a buffalo, new york veteran's hospital. many may have been exposed to hiv. the pens are designed to be used...
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Jan 14, 2013
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the debt ceiling and you did. last year you said you wouldn't extend any of the bush tax cuts for the wealthy and you did. so as you say now that you're not going to negotiate on the debt ceiling, this year, why should house republicans take that seriously and think that if we get to the one minute to midnight scenario that you're not going to back down? >> well, first of all, juliana, take the example of this year and the fiscal cliff. i didn't say that i would not not have any conversations about extending the bush tax cuts, what i said we wouldn't extend bush tax cuts for wealthy and we didn't. we can argue during the campaign that i said, i set the criteria for wealthy at 250, and we ended up being at 400. but the fact of the matter is that millionaires, billionaires, are paying significantly more in taxes, just as i said. so from, you know, from the start my concern was making sure that we had a tax code that was fair and that protected the middle class and my biggest priority was making sure middle class tax
the debt ceiling and you did. last year you said you wouldn't extend any of the bush tax cuts for the wealthy and you did. so as you say now that you're not going to negotiate on the debt ceiling, this year, why should house republicans take that seriously and think that if we get to the one minute to midnight scenario that you're not going to back down? >> well, first of all, juliana, take the example of this year and the fiscal cliff. i didn't say that i would not not have any...
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Jan 14, 2013
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ceiling or the debt limit. where do we go from here? joining me now live mark murray. mark, obviously, the first thing at least some conservatives brought up with the president is that he has taken a different stance in the past when it came to the debt ceiling. >> well, in 2006, then senator barack obama ended up voting against a raise in the debt ceiling. republicans have seized on that saying that the position that president obama's taking today and also in 2011 is inconsistent with that 2006 vote. there is one very big difference between now and 2006. 2006 there wasn't this kind of big protracted battle over the debt ceiling at all. it wasn't a big issue. i was covering politics for nbc at the time. the debt ceiling increase was seen as a procedure and a very partisan vote then but not something you were reporting on for weeks and months like we have in 2011 then and now on the debt ceiling debate and, of course, what happened in 2011 was a loss to the nation's credit rating. there's big differences between
ceiling or the debt limit. where do we go from here? joining me now live mark murray. mark, obviously, the first thing at least some conservatives brought up with the president is that he has taken a different stance in the past when it came to the debt ceiling. >> well, in 2006, then senator barack obama ended up voting against a raise in the debt ceiling. republicans have seized on that saying that the position that president obama's taking today and also in 2011 is inconsistent with...
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Jan 20, 2013
01/13
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the republicans blinking and suggesting i want to fight this debt ceiling on this debt ceiling front, which would be good. they are going to keep us going every three months. we never get around to talking about the larger economic question. >> i don't want to have that conversation in the context of the three-month debt ceiling deals. if we are going talk entitlements, is there room to push on the entitlements and suggest a larger social safety net, things like providing opportunities for poor children beginning to close the wealth gap is a priority. >> raise the health care law. i think it's very important to remember that law isn't fully operational, yet. there is -- yes, exactly. there's an enormous amount of work to do. there's a lot of resistance in the states. that's going to be a struggle. >> one piece of that is in 1997 we did a balanced budget deal. one thing that happened when that period of republicans and democrats came together was step back and as part of consolidating the budget, they shift resources. that was the deal. it was a deficit reduction deal. one thing it cre
the republicans blinking and suggesting i want to fight this debt ceiling on this debt ceiling front, which would be good. they are going to keep us going every three months. we never get around to talking about the larger economic question. >> i don't want to have that conversation in the context of the three-month debt ceiling deals. if we are going talk entitlements, is there room to push on the entitlements and suggest a larger social safety net, things like providing opportunities...
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Jan 15, 2013
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you have the debt ceiling issue. all of those are in the mix right now because they are all coming to a head at the same time. we are going to need to deal with all of them. can't we be responsible? can't we work collaboratively on this? if we can -- hearing from the white house that, you know, you go figure it out. it is not my problem. i didn't have anything to do with this. that's not the way to go. >> let me ask you about your job as the head of the republican campaign committee. will you support all incumbent house republicans no matter what under all circumstances? or -- is your job to eliminate primary opposition? >> you know, i love how you -- you know, we try to talk in absolutes here. we are a member of organization that supports republicans and republican members of the house. here's when we do and we go out and recruit. i think, you know the voters want to check and balance in washington. we are going to offer a positive alternative. great candidates. we now -- second biggest majority since world war ii c
you have the debt ceiling issue. all of those are in the mix right now because they are all coming to a head at the same time. we are going to need to deal with all of them. can't we be responsible? can't we work collaboratively on this? if we can -- hearing from the white house that, you know, you go figure it out. it is not my problem. i didn't have anything to do with this. that's not the way to go. >> let me ask you about your job as the head of the republican campaign committee. will...
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Jan 18, 2013
01/13
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short-term debt ceiling hike. but here's what i'm not hearing and what we should be hearing is an unambiguous plan to splash spending now. republicans need an absolute rock solid plan to implement the sequester which is $1.2 trillion over the next ten years. this is essential. not just to unite the republican conference. but more importantly, it's essential to helping the economy grow more rapidly. and if the republicans don't get it done, i'll say this. they may lose the house in 2014. so let's talk with karen finney. who's a columnist for the hill and former dnc communications director. and hadley heath, senior policy analyst at the independent women's forum. hadley, this paul ryan, he went out and met with reporters. republicans are in the retreat down in williamsburg, virginia. maybe they'll use a short term increase in the debt ceiling maybe three months or six months. is that the point? how does that inform you? does that get to the heart of the matter? >> it certainly doesn't get to the heart of the matter.
short-term debt ceiling hike. but here's what i'm not hearing and what we should be hearing is an unambiguous plan to splash spending now. republicans need an absolute rock solid plan to implement the sequester which is $1.2 trillion over the next ten years. this is essential. not just to unite the republican conference. but more importantly, it's essential to helping the economy grow more rapidly. and if the republicans don't get it done, i'll say this. they may lose the house in 2014. so...
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Jan 15, 2013
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congress has just weeks to increase our debt ceiling. fitch, a leading credit ratings agency, says a repeat of the 2011 debt limit crisis would spark a formal review of our country's aaa rating. that could mean a downgrade by them. now you might remember, s&p, a different agency, already downgraded our country in 2011. that was the first time in our history that that happened. the president is taking a hard-line stand, issuing a warning of his own to the gop. >> we have to pay our bills. congress has two choices here. we can act responsibly and pay america's bills. or they can act irresponsibly and put america through another economic crisis. but they will not collect a ransom in exchange for not crashing the american economy. jenna: republicans like congressman jason chaffetz blasting back against the president. >> i think the president was terribly irresponsible today. to say he will not talk about it because he is above it, but blame all of congress, in part congress helped create this problem but we are going to hear to solve this pr
congress has just weeks to increase our debt ceiling. fitch, a leading credit ratings agency, says a repeat of the 2011 debt limit crisis would spark a formal review of our country's aaa rating. that could mean a downgrade by them. now you might remember, s&p, a different agency, already downgraded our country in 2011. that was the first time in our history that that happened. the president is taking a hard-line stand, issuing a warning of his own to the gop. >> we have to pay our...
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Jan 20, 2013
01/13
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the one thing to remember is it's not just the debt ceiling. it's these automatic cuts that are scheduled to take place march 16789 the debt ceiling isn't their only opportunity to try to get the president to agree to cuts. there are looming deadlines. so i think the republicans will get obama to agree to some cuts, even if we don't have a really economically damaging showdown. chris: how are we going to deal to entitlements? i don't think liberals want to do much. who is going to do it? >> we don't have to do it immediately, and that's an important point. conservatives don't either. the conservative base right now is an older base. it's people in their 50's and 60's, people who say i'm really worried about the deficit. don't touch my medicare or social security. chris: that it? indicated stuff. >> the entitlement stuff is a really big problem. there are a lot of liberals who go too far in denying it's a problem, but it's not an immediate problem. interest rates remain low. we have a little bit of time. chris: now for some fun. we're all lookin
the one thing to remember is it's not just the debt ceiling. it's these automatic cuts that are scheduled to take place march 16789 the debt ceiling isn't their only opportunity to try to get the president to agree to cuts. there are looming deadlines. so i think the republicans will get obama to agree to some cuts, even if we don't have a really economically damaging showdown. chris: how are we going to deal to entitlements? i don't think liberals want to do much. who is going to do it?...
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Jan 20, 2013
01/13
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let us raise the debt ceiling. no strings attached. and if the president can raise it as he should be able to and if congress wants to reject it 2/3. the mcconnell proposal is a good republican proposal. i hope you support it. that's the way to go. >> a bill that says regardless of what happens with the debt ceiling, the united states will never default on the debt, would you support that or not? >> i support the concept. i'd have to look at the bill. the best way to do that is the mcconnell act. >> we may have just made news. >>> last week, general colin powell was here worried about a dark vein of intolerance in republican quarters. you are part of a stream of new faces in the republican party, minority faces and voices in the party that seem to stand against that. how did you respond to it? >> well, i saw that interview. i respect general powell a great deal. i was disappointed with those comments. i think he was buying into some of the partisan attacks. if you look at this last election, for example, i think the most racially divis
let us raise the debt ceiling. no strings attached. and if the president can raise it as he should be able to and if congress wants to reject it 2/3. the mcconnell proposal is a good republican proposal. i hope you support it. that's the way to go. >> a bill that says regardless of what happens with the debt ceiling, the united states will never default on the debt, would you support that or not? >> i support the concept. i'd have to look at the bill. the best way to do that is the...
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Jan 18, 2013
01/13
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ceiling conversation, it's important to remember, this is not solving the debate over whether the debt ceiling should be a debate. this is putting off the debate of whether the debt ceiling should be a debate. >> we're told in response to this report coming out of the white house, one white house official said it is a terrible way to run the country. when asked if the president would veto a short-term extension, the official would not say yes or no, but reiing rated the president's opposition to creating a series of self-imposed crisis. that from kristen welker at the white house. this is putting the onus off the back of the house republicans. this is a big result coming out of they are retreat in williamsburg where paul ryan and others were basically indicating that they can't win this battle. >> the president's press conference, the ball in your court press conference, this is the republicans hitting the ball back over the met saying it's now in your court. we should see. can i make one other quick note? i want a whole andrea mitchell reports on old andrea mitchell footage of preside
ceiling conversation, it's important to remember, this is not solving the debate over whether the debt ceiling should be a debate. this is putting off the debate of whether the debt ceiling should be a debate. >> we're told in response to this report coming out of the white house, one white house official said it is a terrible way to run the country. when asked if the president would veto a short-term extension, the official would not say yes or no, but reiing rated the president's...
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Jan 14, 2013
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. >>> battle over the debt ceiling and spending cuts. jon harwood will recap the latest war of words doming up next. then words from the billionaire executive who says we need to watch out for creeping socialism into the country. he was born in hungary and he sees a lot of warning signs. >>> plus nightmare on housing. so called zombie homes. what are they? this will shock you. back in a moment. [ male announcer ] you've climbed a few mountains during your time. and having an investment expert like northern trust by your side makes all the difference. we add precision to your portfolio construction by directly matching your assets and your risk preferences against your own unique life goals. we call it goals driven investing. after all, you don't climb a mountain just to sit at the top. you look around for other mountains to climb. ♪ expertise matters. find it at northern trust. >>> welcome back. zombie homes, have you heard of this? diana olick tells us what they are and how they can impact your property value. >> they are foreclosures
. >>> battle over the debt ceiling and spending cuts. jon harwood will recap the latest war of words doming up next. then words from the billionaire executive who says we need to watch out for creeping socialism into the country. he was born in hungary and he sees a lot of warning signs. >>> plus nightmare on housing. so called zombie homes. what are they? this will shock you. back in a moment. [ male announcer ] you've climbed a few mountains during your time. and having an...
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Jan 17, 2013
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. >>> just a few hours ago paul ryan claimed to have the solution to our debt ceiling impasse. he calls it a short-term debt limit extension. you may know it better as kicking the can down the road. which reminds me, there was someone just a few months ago who was famously against that kind of a deal. who was it? >> kick the can. kick the can. kick the can. >> right, of course. that's who it was. joining us is jonathan alter and jared bernstein. welcome to you both. john, we've seen speaker boehner's power getting weaker and weaker. is paul ryan now the de facto head of the gop? >> well, you know, actually, martin, i think he has been much more influential than people realize -- >> because he's been quite quiet publicly. >> going back to 2011. he has so much respect within that republican caucus. he's the guy who killed simpson/bowl simpson/bowles. he was on the simpson/bowles commission and wasn't willing to have any revenue increases. his fingerprints were not on it. and then when it came to the grand bargain, he told john boehner wait until the election. don't do this deal.
. >>> just a few hours ago paul ryan claimed to have the solution to our debt ceiling impasse. he calls it a short-term debt limit extension. you may know it better as kicking the can down the road. which reminds me, there was someone just a few months ago who was famously against that kind of a deal. who was it? >> kick the can. kick the can. kick the can. >> right, of course. that's who it was. joining us is jonathan alter and jared bernstein. welcome to you both. john,...
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Jan 20, 2013
01/13
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>> i think so, i think the debt ceiling struggle is probably a loser. the public has been convinced i think to some extent by what amounts to false information, that flows out of the white house and other quarters and throughout too much of the media, that the failure to raise the debt limit would mean an automatic default on international debt which is not true, but, nonetheless, scary. and, i think they didn't want to face that. they didn't do well the last time and have chosen a strategy to use this to get the senate, indirectly to pass a budget, which would be kind of historic, sips it has not happened in several years. and would at least shift the focus away from themselves and as for fighting on the continuing resolution to keep the government only or the sequester, it remains to be seen what strategy, actually how they'll frame all of that. i'll be interested to see that. >> chris: liz, when i talked with david plouffe he made it sound so reasonable. well, you know, republicans will have to agree to some of the cuts they were suggesting, loophole
>> i think so, i think the debt ceiling struggle is probably a loser. the public has been convinced i think to some extent by what amounts to false information, that flows out of the white house and other quarters and throughout too much of the media, that the failure to raise the debt limit would mean an automatic default on international debt which is not true, but, nonetheless, scary. and, i think they didn't want to face that. they didn't do well the last time and have chosen a...
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Jan 14, 2013
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debt ceiling, he's going to make his statement that he's not going to use the debt ceiling as a bargaining chip. but we've got to get to sitting down and working out a deal that's going to really address the nation's problems. we've got to do something about guns. he's got to stake out some territory in which the white house won't retreat from. >> chip, how much is this a sell of the american people? >> well, i mean, i think right now as kind of like the governor said, set the tone. >> forgive me for interrupting but the president is out now in the eastern room. let's take a listen. >> good morning. i thought it might make some sense to take some questions this week as my first term comes to an end. it's been a busy and productive four years, and i expect the same for the next four years. i intend to carry out the agenda that i campaigned on, agenda for new jobs, new opportunity, and new security for the middle class. now, right now our economy is growing and our businesses are creating new jobs. so we are poised for a good year if we make smart decisions and sound investments. and as long
debt ceiling, he's going to make his statement that he's not going to use the debt ceiling as a bargaining chip. but we've got to get to sitting down and working out a deal that's going to really address the nation's problems. we've got to do something about guns. he's got to stake out some territory in which the white house won't retreat from. >> chip, how much is this a sell of the american people? >> well, i mean, i think right now as kind of like the governor said, set the tone....
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Jan 18, 2013
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pass the debt ceiling and talk about spending cuts if that's what you want to talk about. >> i want to read what "the washington post" conservative columnist had to say about the republican strategy. here's what he said. he wrote, obama's post-election arrogance and intransigence can put you in a fighting mood. i sympathize. this is what he's telling the republicans but i'm tending toward the realist view. don't force the issue when you don't have the power s. that what we're seeing with the debt kreeling in they don't have the power and maybe taking this advice from the conservative columnist? >> it's rare i agree with charles krauthammer but don't fight battles you can't win and don't go to the brink to be perceived as pulling back and therefore losing. this is not a fight they can win. it's certainly one they can lose and i think, though, just doing this three months, we are not done with this. if you're a crisis junkie, we are in the position of not only did the fiscal cliff not end this, we'll talk about this, and talking about it and talking about it and whether there's a coheren
pass the debt ceiling and talk about spending cuts if that's what you want to talk about. >> i want to read what "the washington post" conservative columnist had to say about the republican strategy. here's what he said. he wrote, obama's post-election arrogance and intransigence can put you in a fighting mood. i sympathize. this is what he's telling the republicans but i'm tending toward the realist view. don't force the issue when you don't have the power s. that what we're...
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you saw that, for example, in the debt ceiling fight. first debt ceiling fight in 2011, the president could not go to the brink, because he was worried if they went over the brink -- >> sure. >> -- economic downturn, you don't win. now you can take a harder line. on the other hand in a second term there's often the sense that you have a narrow window on domestic issues with congress, probably about a year, maybe two at the most to get things done and then your attention usually turns more to foreign policy. but the biggest thing is that 1600 pennsylvania avenue is kind of a dangerous neighborhood. if you hang around there long enough, the odds start going against you. often the second term has been very tough for presidents. we'll see if this one can avoid that precedent. >> never heard it described that way. dangerous neighborhood. dangerous territory. >> yes. >> ron brownstein, nice to see you this morning. thank you very much. >>> next hour, what are we missing? is there an issue that no one is talking about now that will define the p
you saw that, for example, in the debt ceiling fight. first debt ceiling fight in 2011, the president could not go to the brink, because he was worried if they went over the brink -- >> sure. >> -- economic downturn, you don't win. now you can take a harder line. on the other hand in a second term there's often the sense that you have a narrow window on domestic issues with congress, probably about a year, maybe two at the most to get things done and then your attention usually...
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on the debt ceiling, and you did. last year you said that you wouldn't extend any of the bush tax cuts for the wealthy. and you did. so if you say now you're not going to negotiate on the debt ceiling this year, why should house republicans take that seriously and think that if we get to the one minute to midnight scenario that you're not going to back down? >> first of all, julianna, let's take the example this year in the fiscal cliff. i did not say i wouldn't have any conversations at all about extending the bush tax cuts. what i said was we weren't going to extend bush tax cuts for the wealthy. and we didn't. now, you can argue that during the campaign i said -- i set the criteria for wealthy at 250 and we ended up being at 400, but the fact of the matter is, millionaires, billionaires are paying significantly more in taxes, just as i said. so from the start, my concern was making sure that we had a tax code that was fair and that protected the middle class, and my biggest priority was making sure the middle class
on the debt ceiling, and you did. last year you said that you wouldn't extend any of the bush tax cuts for the wealthy. and you did. so if you say now you're not going to negotiate on the debt ceiling this year, why should house republicans take that seriously and think that if we get to the one minute to midnight scenario that you're not going to back down? >> first of all, julianna, let's take the example this year in the fiscal cliff. i did not say i wouldn't have any conversations at...
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people are now saying if debt ceiling is taken care of or deferred we don't have much to worry about. i think we have a little cold shower if we're looking at the economic growth forecast that involved major cuts whether it's sequestration, short-term government shutdown. i'm not an alarmist about what is going none d.c. but i feel like what we've done is the consensus has really been oscillating between over anticipating terrible things from d.c. to under anticipating them. i think we are in the latter situation right now. >> michael, it is joe. we may or may not next week get the announcement of a dell deal or potentially the deal falls through. what type of impact do you see in terms of sentiment on the overall s&p there would be if an actual deal is to occur or if it falls apart? >> i think it has to be followed by others. i think i actually feel like it is a one off thing. people are obviously eager to see something get done. you want to see the capital markets be able to achieve what on paper seems like an obvious deal. a company that probably should be private. and so i do thi
people are now saying if debt ceiling is taken care of or deferred we don't have much to worry about. i think we have a little cold shower if we're looking at the economic growth forecast that involved major cuts whether it's sequestration, short-term government shutdown. i'm not an alarmist about what is going none d.c. but i feel like what we've done is the consensus has really been oscillating between over anticipating terrible things from d.c. to under anticipating them. i think we are in...
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to reduce the debt ceiling, we talked to businesses outside of new york, if we don't raise the debt ceiling, it's a potential, reality for wrecking -- >> that's the wrong time. >> the debt ceiling is the wrong time to do it. >> saying you can't do it with the debt ceiling, can't do it with the fiscal cliff, can't do it shutting down the government. all i'm talking about, the president of the united states has absolutely no is in no position to talk about who's being reckless with the debt. the real default has come from his lack of leadership on deficits and debts. the federal deficit has been over a trillion dollars all four years he's been president of the united states. he's done absolutely nothing to curb the costs of these programs that will, according to democra democrats -- >> hmm. >> bankrupt us. what has harry reid rand democrats done in the senate? absolutely nothing. how many days since they passed a budget? >> 1,357. >> 1,357 days since democrats have passed a budget in the united states senate. >> let's talk about that lack of leadership so many people have criticized the presi
to reduce the debt ceiling, we talked to businesses outside of new york, if we don't raise the debt ceiling, it's a potential, reality for wrecking -- >> that's the wrong time. >> the debt ceiling is the wrong time to do it. >> saying you can't do it with the debt ceiling, can't do it with the fiscal cliff, can't do it shutting down the government. all i'm talking about, the president of the united states has absolutely no is in no position to talk about who's being reckless...
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the debt ceiling has been in place since 1939. you have competing ideas, one on the house, john boehner said we'll raise the debt sealing a dollar for every dollar you cut spending. republicans out of pennsylvania, pat toomey you prioritize the bills you pay for long period of time. weeks and months. make sure the military is taken care of. >> sure. bill: would you back house idea or senate idea or neither? >> i think both are part of the negotiation strategy. i think john boehner's plan to bring down spending dollar for dollar makes a lot of sense and i think pat toomey's does. you don't want to cut very things most critical to the u.s. there is lot of garbage spending in government, believe me, bill, when i say that. why would you make the critical spending the first things you're going to cut except just to hold the country hostage. that is what the democrats are threatening. it doesn't make sense. bill: do you think republicans can win on either option? >> if they do it carefully, slowly and comfortably, yes i do think they ca
the debt ceiling has been in place since 1939. you have competing ideas, one on the house, john boehner said we'll raise the debt sealing a dollar for every dollar you cut spending. republicans out of pennsylvania, pat toomey you prioritize the bills you pay for long period of time. weeks and months. make sure the military is taken care of. >> sure. bill: would you back house idea or senate idea or neither? >> i think both are part of the negotiation strategy. i think john boehner's...
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for example, how to raise the debt ceiling. can they even get that passed? at the end of the week, boehner will head to williamsburg, virginia to walk them through the consequences of default and then sell them on a plan that steers them away from that. as the vice president gets set to meet with house democrats about gun violence today, if the political will to change gun laws really there? democratic congressman jim clyburn, he joins me next on that topic and some others. like are we headed for another government shutdown? fight over the debt ceiling, what comes first, but first, a look ahead at the president's schedule today. lots of off camera meetings. life live lunch. you're watching "the daily rundown" only on msnbc. [ man ] ring ring... progresso this reduced sodium soup says it may help lower cholesterol, how does it work? you just have to eat it as part of your heart healthy diet. step 1. eat the soup. all those veggies and beans, that's what may help lower your cholesterol and -- well that's easy [ male announcer ] progresso. you gotta taste this
for example, how to raise the debt ceiling. can they even get that passed? at the end of the week, boehner will head to williamsburg, virginia to walk them through the consequences of default and then sell them on a plan that steers them away from that. as the vice president gets set to meet with house democrats about gun violence today, if the political will to change gun laws really there? democratic congressman jim clyburn, he joins me next on that topic and some others. like are we headed...
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maybe we shouldn't call this the debt ceiling at all. maybe we should change it the downgrade ceiling because this game of chicken is sick. >> sometimes semantics can make all the difference. >>> breaking news. "usa today" is reporting that lance armstrong has confessed to using performance enhancing drugs. i am looking at just rapped with lance armstrong, 2 1/2 hours. he came ready. what he did tell her? >> he confessed to doping in his cycling career. the interview just wrapped. and there is a confidentiality agreement about the show. it won't air until thursday. the plan all along was to use the venue to confess. make an admission about doping in his cycling career. something he's never done before. he's denied it for years and attacked those who accused him of it for years. >> significant development. >> attacked and attacked aggressively. denied allegations so many times. many people who thought there was no way he could tell the truth believed him. the power and passion in which he denied it. now he has admitted to something, now t
maybe we shouldn't call this the debt ceiling at all. maybe we should change it the downgrade ceiling because this game of chicken is sick. >> sometimes semantics can make all the difference. >>> breaking news. "usa today" is reporting that lance armstrong has confessed to using performance enhancing drugs. i am looking at just rapped with lance armstrong, 2 1/2 hours. he came ready. what he did tell her? >> he confessed to doping in his cycling career. the...
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take a look now at what the debt ceiling would be, if you reached the debt ceiling and reduced government spending by that amount, mark sandy, others suggest it should be a 7% hit to gdp. so, simon, a big war of numbers, and big war of words on both sides, as we game out what happens, first with the debt ceiling, then we continue resolution, and also the sequester. simon? >> let's hope they rise above. thank you very much, steve liesman with the fiscal cliff. >>> it's been the trade of many people's lifetimes, but with the courages sill at multiyear lows. and the meeting next week, will the trade last? it's the "money in motion" section. good morning. >> good morning. good to be with you guys. what about this dollar/yen trade? obviously the dollar is substantially higher today, but monday/tuesday/wednesday, we've reversed the trend, the yen was actually higher. where do we go from here? >> i think steve's presentation is one of the reasons i'm cautious on this trade. we're within a whisker of the obvious target. i think that trade level will stall. to me i think the better trade is to tak
take a look now at what the debt ceiling would be, if you reached the debt ceiling and reduced government spending by that amount, mark sandy, others suggest it should be a 7% hit to gdp. so, simon, a big war of numbers, and big war of words on both sides, as we game out what happens, first with the debt ceiling, then we continue resolution, and also the sequester. simon? >> let's hope they rise above. thank you very much, steve liesman with the fiscal cliff. >>> it's been the...
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. >> we're going to change to debt ceiling now. white house leader eric cantor says the gop -- they're going to give them a three-month reprieve, they're going to temporarily approve a debt limit increase. the president said no negotiating on the debt limit ceiling. is this a victory for the president or do you see this as just a postponing of the inevitable standoff? >> it's both. it is a victory for the president, the republicans have been saying, we're not going to raise the debt ceiling unless we have every dollar of the debt ceiling goes to spending of that same amount. they've conceded they're going to extend the debt ceiling without any cuts. but that moves us to now where government funding expires on march 31th. at that point, we'll have a s w showdown in which republicans insist on spending cuts. there will still be some kind of fight. we will have a clock to some kind of catastrophic event that could happen, like we had in december. but it would not be with the debt ceiling. the republicans seem to have conceded to the o
. >> we're going to change to debt ceiling now. white house leader eric cantor says the gop -- they're going to give them a three-month reprieve, they're going to temporarily approve a debt limit increase. the president said no negotiating on the debt limit ceiling. is this a victory for the president or do you see this as just a postponing of the inevitable standoff? >> it's both. it is a victory for the president, the republicans have been saying, we're not going to raise the debt...
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we expect him to talk about the debt ceiling. we're going to bring his comments to you live. >>> it's been one month since the tragic shooting at sandy hook elementary school. politicians at the state and federal level are scrambling to find ways to end gun violence in america. and one of them maryland governor martin o'malley outlined plans for what he says would be the toughest gun laws in the country. >> this would be a comprehensive legislative package to prevent gun violence and it addresses not only the guns but mental health and school safety. briefly, it will ban military assault weapons that have no place on the streets of baltimore or no other neighborhood in our state and it will limit the size of magazines in order to make it harder for criminals to gun down in succession police officers or school children. >> that might work for a state like maryland, a very blue state, but maybe not so much at a federal level. david keane, the president of the national rifle association, says, yeah, it will be a whole different stor
we expect him to talk about the debt ceiling. we're going to bring his comments to you live. >>> it's been one month since the tragic shooting at sandy hook elementary school. politicians at the state and federal level are scrambling to find ways to end gun violence in america. and one of them maryland governor martin o'malley outlined plans for what he says would be the toughest gun laws in the country. >> this would be a comprehensive legislative package to prevent gun violence...
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we're the only country on earth that has a debt ceiling limit. ultimately as part of a grand bargain we ought to get rid of it and we ought to substitute statutory budget controls and the constitutional credit cart limit, the gdp but in the interim if the republicans wasn't to use leverage they ought to use it on the sequester and continuing resolution. >> right on the heels -- >> we should not allow this to become thought of as a legitimate or normal budget strategy. this is hostage-taking. this is saying walk into a room saying i've got a bomb, give me what i want or i'll blow up this room. this is not something -- this has never happened before and should not be allowed to happen. >> doesn't it mean it will happen now for the first time given the positions that each side has taken and what -- let me ask you, paul krugman, what are the economic consequences of that? >> it's incredibly scary. this is much scarier than the fiscal cliff, much scarier than any of the other things out there because we don't know what it does. what we do know is u.s.
we're the only country on earth that has a debt ceiling limit. ultimately as part of a grand bargain we ought to get rid of it and we ought to substitute statutory budget controls and the constitutional credit cart limit, the gdp but in the interim if the republicans wasn't to use leverage they ought to use it on the sequester and continuing resolution. >> right on the heels -- >> we should not allow this to become thought of as a legitimate or normal budget strategy. this is...
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also, the next fight in washington will be over the debt ceiling. can president obama end this craziness and bypass congress altogether? we'll talk about the out of the box solutions and whether they would work. >>> and, finally, this is the signature of the man who might be the next treasury secretary. we'll look back through history to see if there's any loopy president. speaking of secretaries of the treasury three former holders of the office and many other statesmen and women offering advice to the president on a new gps special tonight "memo to the president, road map for a second term." tonight at 8:00 p.m. and 11:00 p.m. eastern and pacific. >>> first, here's my take. chuck hagel's nomination as america's next secretary of defense has drawn fire from people who say he's outside of the main stream. in fact, he's a pretty straight forward, traditional republican on most issues with a reluctance to go to war, born of knowledge and experience. where hagel does appear out of the mainstream in washington's world of group think is on iran. which i
also, the next fight in washington will be over the debt ceiling. can president obama end this craziness and bypass congress altogether? we'll talk about the out of the box solutions and whether they would work. >>> and, finally, this is the signature of the man who might be the next treasury secretary. we'll look back through history to see if there's any loopy president. speaking of secretaries of the treasury three former holders of the office and many other statesmen and women...
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ceiling, and it looks like they are going to be willing to extend the debt ceiling for three months with which is the cover of the new york times this morning, and what is that about? what is happening? >> well, it seems they are trying to line up their opposition to the president, this debt ceiling trying to line it up with two other big economic situations that we are going to be faced, that is to continue resolution that we common call the c.r. to keep the government running which expires the first of march. and then of course, we have the so-called, i don't know what to call it, but it is not the cliff, but it is not what i would call it. >> the curb. >> yes, the curb beginning to kick in, and we need to work with that and i think that they are trying to line it up to camouflage whatever they may do, which i think will be toote to let the debt ceiling go up. >> okay. so i should not see this as we say in the black church, a "come to jesus" moment, but in washington they say we are outmanned on this, so we will have to give the president his way, because the wind of public opinio
ceiling, and it looks like they are going to be willing to extend the debt ceiling for three months with which is the cover of the new york times this morning, and what is that about? what is happening? >> well, it seems they are trying to line up their opposition to the president, this debt ceiling trying to line it up with two other big economic situations that we are going to be faced, that is to continue resolution that we common call the c.r. to keep the government running which...
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ceiling. . it has been less than one month since the tragic shooting at sandy hook elementary in connecticut and the country is deeply divided over the issue of gun control, and the deadline is approaching for vice president joe biden to representative his recommendations to the president which should happen tuesday. cnn's candy crowley is taking up the debate in today's "state of the union" and candy, i understand that you have a pretty outspoken guest on the show. >> well, a couple of them. david keene who is the president of the national rifle association and also we will talk to the new senator from connecticut chris murphy and i spoke to him a month ago up there on the scene at newtown, and then we want to try to take a look of this from a bipartisan approach if that is possible. there is a new group forming with senator joe manchin who is a democrat from west virginia and jon huntsman who was a presidential candidate a moderate who is trying to form this group to form bipartisanship, and i
ceiling. . it has been less than one month since the tragic shooting at sandy hook elementary in connecticut and the country is deeply divided over the issue of gun control, and the deadline is approaching for vice president joe biden to representative his recommendations to the president which should happen tuesday. cnn's candy crowley is taking up the debate in today's "state of the union" and candy, i understand that you have a pretty outspoken guest on the show. >> well, a...
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>> they seemed to welcome the idea, the republicans sound willing to extend the debt ceiling. a spokesman for majority leader harry reid says if the house can pass a clean debt ceiling increase to avoid default and allow the white house to to meet its existing obligations we will be happy to consider it. they don't want the drama. >> debt ceiling in a manner that causes no concern to the economy and to global markets, that does not in any way suggest that washington is about to, you know, engage in another process that results in a self-inflicted wound to the economy. >> this afternoon, carney calls on congress to pass an extension of the borrowing limit without delay. bill? >> bill: get ready for another battle. thanks, mike. mike immanuel from washington tonight. top story as we go around the world tonight in 80 seconds. >> china, had happened after a cargo ship ran aground on some rocks and sprang a leak. the crew reportedly trapped for seven hours in stiff winds and wonderful waives. the helicopter team pulled all four people on board to safety in just 35 minutes. germany.
>> they seemed to welcome the idea, the republicans sound willing to extend the debt ceiling. a spokesman for majority leader harry reid says if the house can pass a clean debt ceiling increase to avoid default and allow the white house to to meet its existing obligations we will be happy to consider it. they don't want the drama. >> debt ceiling in a manner that causes no concern to the economy and to global markets, that does not in any way suggest that washington is about to, you...